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Sellers to pass along tax
Given the same price elasticity of supply, sellers would be able to pass along the smalles portion of a 10%tax on which item?
Beef with a price elasticity of demand of .62
Pork with a price elasticity of demand of .73
Chicken with a price elasticity of demand of .32
Fish with a price elasticity of demand of .12
You are told to produce a quantity that maximizes profit. How many units do you produce and what is your profit? How many machine and labour hours are used in production?
Discuss the advantages and/or disadvantages of distributing marketable pesticide permits to each farm operating in the watershed equal to 40% of its current level of use of that pesticide, versus simply ordering each farm to reduce pesticide use t..
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function
In a perfect capital market, advices for a corporate financial manager on making capital structure decisions.
Describe (in a sentence or two) the short run profit maximization condition when labour is the only variable input? What will happen to the labour demand if price of the output goes up?
A perfect competitive firm has the cost function TC = 1000 + 2Q + 0.1 Q^2-What is the lowest price at which the firm can break even?
Suppose an economy only produces single consumption well. Consider permanent upward shift of production function. Graphically describe the effects on each of following:
Illustrate what do each of the following seek if they pursue their own self interest: consumers, resource owners, and business firms.
Engineers at the national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of unleaded gasoline.
Looking to raise profitability in perfectly competitive marketplace. How to efficiently plan production?
A profit maximizing firm produces three products X, Y and Z. The firm has no costs. There are three customers 1, 2 and 3. What will be the price of each product if the firm decides to sell them separately?
Consider a firm selling two different products at two different plants. The cost function for both plants is given by C (q 1 , q 2 ) = q 1 2 + αq 1 q 2 + q 2 2 .
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